Thousands of people fill arena to hear from Warren Buffett

“Nobody should be roadkill”, Buffett said on Saturday at the annual meeting of his Berkshire Hathaway in Omaha, Nebraska.

Trump’s proposed tax plan is expected to cut corporate tax to 15 percent – “to the benefit of shareholders” as Buffett put it – and the new Republican healthcare bill would also repeal most of the taxes that paid for the Obamacare, or as it is formally known, the Affordable Care Act.

According to Gadfly’s Tara Lachapelle, Buffett’s most notable trait is “nobody really questions him” given his multi-decade long tenure at Berkshire which delivered to investors a return of almost 2 million percent. This week, the Oracle copped to getting it wrong on another tech company: IBM.

“Change is painful for a lot of people, and I would rather spend my days not doing that sort of thing”, he said.

In August of 2011, Warren Buffett’s Berkshire Hathaway purchased $5 billion in Bank of America’s preferred stock.

Buffett also addressed the question of driverless vehicles, saying they could pose a threat to Berkshire-owned auto insurer Geico, and to BNSF if it spread to trucks. Buffett’s Vice Chairman Charlie Munger is 93.

Talking about Berkshire’s investment bets and how it picks and reviews its holdings, Buffett said, “We brought some awful businesses and tried to turn them around”.

Berkshire is Wells Fargo’s biggest shareholder.

He disclosed this week that Berkshire has sold about one-third of the IBM stake, even as it bulks up its holdings in Apple Inc AAPL.O , which Buffett said he thinks of more as a “consumer” company that a technology company.

Berkshire and 3G jointly bought H.J. Heinz Co in 2013 and merged it with Kraft Foods Group two years later.

Warren Buffett likened unemployed workers to animals that are helpless to avoid vehicle crashes, and said the USA must do more to help those displaced by competition from overseas and technology.

“It was bad enough having a bad system”, Buffett said, building on his prior remarks about the bank.

Berkshire owns about 473 million shares of Wells Fargo. Sloan, the bank’s CEO, has said most calls to what the bank calls the EthicsLine were handled properly and promised to fix cases where they weren’t. Doors opened at 7 with a meeting launch at 9:30. “Will Gates have effective control of Berkshire due to foundations ownership of 35% of class A shares since no one will own more shares?”

Buffett is the celebrity that everyone wants to get close to at the meeting.

We tend to agree with Mr. Buffett and we’re not alone.

While he wandered through the hall, Buffett told reporters that he continues to believe the economy is growing steadily at about 2 percent a year.

Get the entire 10-part series on Warren Buffett in PDF. The 86-year-old Sage of Omaha is married to Astrid Menks, with whom he was married in 2006. Berkshire said complex social and moral issues should not determine where it could invest.